O/T Heroes and Villains

[Geoff Parkstone]

The insurance companies will be OK. Most business Interruption policies will not pay out on COVID as its not a specified peril leading to loss. It doesn't matter if the government lock down, policies which do not name COVID will nor respond, other than on an omnibus basis

[ramAnag]

Okay...don’t know enough to argue...but surely if public hospitality/entertainment businesses follow Government instruction rather than choose to close they are more likely to be insured?

Similarly, at a personal level, if I had used my common sense and cancelled my upcoming flight to LA before Trump rightly made it impossible to fly to the States, then I would be in a weaker position, although actually my airline is still playing games by not officially cancelling a flight that was due to leave in twelve days even though there is not a hope in hell of it leaving at any time in the next few months at least...as far as I can tell. They seem to want me to cancel before they do.

[Geoff Parkstone]

Nope

I've spent the last few days involved in the implications of closing a charity run museum and no cover for increased costs of working or loss of income as the cause of loss was not a specified "condition", Unless there is an "any unspecified cause"clause, which the vast majority of policies no longer contain, or I guess, unless you renewed your policy very recently and included COVID but no underwriter with half a brain would have allowed that.

You don't have to believe me - ask RSA, Axa, Zurich to name but a few: I have

Ultimately you, me and the taxpayer general is going to have to foot the bill, as HMG cannot allow so many small businesses to collapse and fail. There's another lump of sovereign debt to heap on future generations, but a lump that is unavoidable if we are to have anything left to emerge from this nightmare into.

[Geoff Parkstone]

As regards flights, I would be very careful cancelling - your travel insurance policy terms and conditions should set out your position and guide you what to do and what not to. Or if you paid on credit card it might also be covered.

Dont take this wrongly but I have less sympathy with personal misfortunes than with business misfortunes, since the latter still needs to be there after we are all done. Put bluntly, you have spent the money already - your only real loss was the pleasure and relaxation associated with your trip, as opposed to financial: in fact your outgoings are now probably less!. For businesses it could mean the end of a life's work, the end of employments for many people, bankruptcy and so on. I know where my limited busget of HMG compensation would be focussed

[ramAnag]

I do believe you...that’s why I asked, and I do understand your point about personal misfortune v business misfortune although I’m not sure I see it entirely the same way as you. Surely the loss is ‘financial’ if you never get what you’ve paid for?

[ramAnag]

Sticking with your area of expertise...I understand why the $ is strengthening against all currencies but why does the £ seem to be weakening against the € as much as against the $...and why does the FTSE appear to be weakening disproportionately to other indexes?

[Andy_Faber]

Sticking with your area of expertise...I understand why the $ is strengthening against all currencies but why does the £ seem to be weakening against the € as much as against the $...and why does the FTSE appear to be weakening disproportionately to other indexes?

Its bitterness because they can't now beat us up at Eurovision

[ramAnag]

Its bitterness because they can't now beat us up at Eurovision

Lol...Eurovision cancelled...East Enders much reduced... the air apparently becoming becoming rapidly cleaner. Every cloud....

[Geoff Parkstone]

yet interestingly there is one area of the country where COVID has not reached. Borsetshire is mercifully free from the virus; all of the Archer clan are safe and secure and not even self isolating. They did however have a big explosion at the local hotel instead, so that maybe killed off all the airborne virus thingies

[Geoff Parkstone]

I do believe you...that’s why I asked, and I do understand your point about personal misfortune v business misfortune although I’m not sure I see it entirely the same way as you. Surely the loss is ‘financial’ if you never get what you’ve paid for?

This could be that I hadn't got a holiday planned! BUT financially you are better off by not going on holiday